According to market research firm MarketsandMarkets, the global XR market is expected to grow from $40.1 billion last year to $111.5 billion in 2028. IDC, a market research firm, predicts that shipments of global XR headsets will increase 47% year-on-year to 11 million units this year. XR is a generic term for virtual reality (VR), augmented reality (AR), and mixed reality (MR). It is a cutting-edge technology that is drawing the most attention along with artificial intelligence (AI). Currently, it is mainly used in the fields of entertainment and games, but analysts say that it will expand its scope to various fields such as education, manufacturing, medical care, and defense in the future to promote growth. In particular, many predict that the use of virtual training systems in the defense sector will increase sharply.
The global XR market is expected to grow from about 25.6 trillion won in 2021 to 135.9 trillion won in 2026. It has a high annual growth rate of 39.7 percent. XR refers to a technology that creates an expanded reality by combining the real world and the virtual world. XR encompasses various technologies including virtual reality (VR), augmented reality (AR), and mixed reality (MR). According to ZION Market Research, an American market research firm, the global virtual training system market is expected to continue to grow at a high rate of 14.4% every year from 2018 to 2030. In addition, the size of the global XR market was $35.14 billion in 2022, and it is expected to reach about $345.9 billion in 2030, growing at a CAGR of 33.09% in the forecast period from 2022-2030. This trend can be seen from the movements of big tech companies. The growing demand for immersive experiences is contributing to the growth of the VR/AR market. In addition to the previously used entertainment, the competitiveness is strengthening as the use of medical care, education, and retail industries increases. By launching educational and educational functions and integrating VR into classrooms, education innovation, medical care, and VR technology can solve the shortage of surgical and nursing personnel. By utilizing metaverse in manufacturing and manufacturing facilities, work efficiency can be enhanced, agriculture can be reduced and precise, and VR headsets can be used in various fields such as aerospace, astronaut training, and mental health. It is a technology that can solve such problems due to various problems such as time and money. These technologies are important for companies that can perform more detailed tasks and customize them that customers want.
NOVAFLO has a history of producing various XR contents. University hospitals have a high understanding of specialized fields such as CPR and dementia diagnosis, maternity social, nursing technology, etc. can produce various XRs related to them, customization is possible, and in the field of cultural-based entertainment, P2C-based community + AR experience contents were developed to create contents that can be used more pleasantly by companies and customers. Compared to other fields, the entertainment sector often wants to be able to directly recreate contents such as games, music, dance, and goods using IP (Intellectual Property Rights). In that sense, SMCU has also produced AR contents and also an e-learning platform can be produced. Recently, XR and VR have been applied to education in various ways. Unlike companies that have produced existing e-learning platforms, NOVAFLO has built and serviced various functions in an outsourced form by placing desired functions and designs on cloud-based platforms, and supports various learning methods so that they can be used in more diverse ways. Companies that can use stable technology and customization, and more, NOVAFLO is a company that can link, plan, graphic, and develop various hardware such as kiosks, smart devices, and attractions.
SOPHIA KIM
US ASIA JOURNAL
